Pairing Up for Greater Power News Analysis: Southern and Scottish Link May Herald Second Merger Wave
macalister, Terry, The Independent (London, England)
SOUTHERN ELECTRIC yesterday became the last of the12 UK regional electricity companies (RECs) to lose its independence, as plans for a near-pounds 5bn merger with Scottish Hydro-Electric were announced.
The deal could herald a second wave of industry retrenchment following the first when predominantly US groups bought in to the British energy supply sector.
The latest no-premium transaction would see Southern shareholders owning 55 per cent, with Scottish taking 45 per cent of a group called Scottish and Southern Energy (SSE).
The all-share deal has yet to be approved by shareholders from both companies and industry regulators. Analysts say the …
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Publication information: Article title: Pairing Up for Greater Power News Analysis: Southern and Scottish Link May Herald Second Merger Wave. Contributors: macalister, Terry - Author. Newspaper title: The Independent (London, England). Publication date: September 2, 1998. Page number: 15. © 2009 The Independent - London. Provided by ProQuest LLC. All Rights Reserved.
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